Metrocon Holdings Appears Well Positioned to Capture Construction Pipeline
Dow Jones
Sep 29
0221 GMT - Metrocon Holdings has specialist exposure to Singapore's construction pipeline, KGI Securities (Singapore) analysts say in a research report. The company's foundation engineering capabilities position it to capture opportunities across public housing, infrastructure and institutional developments in Singapore, the analysts say. Its established project track record and main-contractor relationships support contract acquisition. Also, planned increase of Metrocon's grade to 'L6' from 'L5" under Building and Construction Authority's 'CR08 Piling Works' could broaden its direct public-sector tender opportunities. The brokerage initiates coverage of the stock with an outperform rating and a target price of 0.28 Singapore dollar. Shares last closed at S$0.25.
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